Apple has committed $848 million for solar energy from First Solar's California Flats Solar Project in Monterey County, Calif. Apple will receive electricity from 130 MW under a 25-year power purchase agreement (PPA).
The 2,900-acre California Flats Solar Project occupies 3 percent of a property owned by Hearst Corporation in Cholame, Calif. Construction is expected to begin in mid-2015 and to be completed by the end of 2016.
The output of the remaining 150 MW of the project will be sold to Pacific Gas & Electric under a separate long-term PPA, and the project is fully subscribed between the Apple and PG&E PPAs.
This deal marks the first wholesale commercial and industrial PPA executed by First Solar.
